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Sep 02 - 05:00 AM
EUR/USD - Shorts Certainly Won't Stop EUR/USD Falling
First appeared on eFXplus on Sep 02 - 02:45 AM
  • EUR/USD shorts remain very small. Represent no brake on the downtrend
  • Given extent of the fall this year, traders are not short enough IMM/FX
  • After break below 1.1000 it's very likely number short grows dramatically
  • Once a large enough short position is established there's basis for bounce
  • In past spec bets of USD 20 billion upwards reached before EUR/USD turned
  • Current shorts are only about one quarter needed to impact EUR/USD

EUR/USD weekly chart Click here

Source:
Refinitiv IFR Research/Market Commentary

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